People who often rely on online payments and e-wallets will have come across the name Payza. This company was the first provider to let members use Bitcoin alongside traditional currencies. Payza is now adding support for Dash, one of the top privacy-oriented cryptocurrencies. It’s an interesting choice, yet the company feels it is the only choice as of right now.
Dash Support Comes to Payza
Most companies that have paid attention to cryptocurrencies are becoming aware that there are plenty of other currencies besides Bitcoin to keep an eye on. In fact, most altcoins can be quite valuable in their own way. It is only a matter of time until we see more altcoins make an impact. Payza has always tried to remain one step ahead of its competition, which makes its most recent development all the more interesting.
Even though people are well aware that Payza enabled Bitcoin support a while ago, the company is looking well beyond the world’s leading cryptocurrency as well. Because of their determination to offer a more competitive service, they have decided to integrate full support for Dash. Most cryptocurrency users will know Dash by now, as the currency focuses on privacy and a certain degree of anonymity for transactions.
With this new integration, Payza will let users hold and store Dash in their e-wallet accounts. It is only the second cryptocurrency to be supported by the company, which means Dash is a member of a very exclusive club right now. While storing funds in a third-party wallet which you do not control is not the most secure option, it will certainly introduce a degree of convenience which novice users will appreciate.
Moreover, as part of this integration, Dash holders will be able to exchange this currency to one of the other 26 supported currencies, including Bitcoin. All of this can be done through the Payza wallet itself, and the exchange process should be completed instantly. What’s more, there is no fee when depositing Dash into one’s Payza account, and withdrawal fees are kept to 0.000005 Dash. Receiving Dash, on the other hand, is subject to a 1.2% fee, which is still lower than Payza’s traditional fees.
Payza’s CEO, Firoz Patel, explained the decision as follows:
There are several reasons that we chose Dash to be the second cryptocurrency integrated into our platform, after Bitcoin. Dash boasts low network fees and fast transactions, two features that users look for in a cryptocurrency. Dash also has a vibrant and active community, especially in the developing world, which appeals to us as a company that also focuses on empowering underbanked populations. Finally, Dash is user-friendly and has a roadmap in place to further improve usability.
Integrating Dash into Payza was made possible thanks to BlockCypher. This company has been making waves in the blockchain industry over the past few years. It is expected that Payza will launch support for Ethereum and Litecoin in the near future as well, although no official dates have been announced as of yet. Additional currencies may follow later on, although we will have to wait and see which ones.